After a long wait, doubts about the construction of new buildings are cleared in our country. An activity that will promote national and European economy.
The building will grow over other economic activities in Spain. According to the Bank of Spain in its latest GDP estimations.
This entity foresees an investment increment in the construction sector, 2.1% in 2016, 4.2% in 2017 and 4.4% in 2018.
The main European barometers point to Spain, not only as the country where it is built more, but also as one of the states where there will be more constructions in the coming years.
Undoubtedly, the lack of new developments and the future demand will boost the construction and rehabilitation with residential character. In contrast, infrastructure and civil works they will have a residual character.
Construction in Spain against Europe
Construction activity in Europe has increased by 3.1% year on year, according to data from July. The best record in the first half of the year, mainly driven by the representatives of the sector in Spain.
In the latest production statistics in construction, developed by Eurostat, highlights the construction production in Spain. One sector that has increased its activity over 12% compared to 2015.
A number unmatched in the continental ranking, just followed by Sweden (+ 10%). While other countries like France (+ 3.3%), Romania (+ 2.9%) and Germany (+ 2.3%) remain far away.
In addition to the annual growth, Spain stands out for its positive monthly evolution. July data, compared to the previous month, marks a rise of 1.8% in European activity and gives leadership to France with 4.8%. Just behind Slovenia (+ 2%) and Spain (1.9%), with the second and third best numbers.
Reactivation in the European construction market
Looking ahead to the coming years, overall growth in building activity across Europe are expected.
A recent Euroconstruct report on forecasts growth, estimates blips of 3% for this sector in 2016. By 2017 it is expected an even greater activity, with an increase of 2.7%. While 2018 will reach 2%.
At the country level, Spain is highlighted with a forecast of + 3.7% for 2016, of + 4% for 2017 and + 3.5% for 2018.
In this projection we only surpass the European leader, Ireland with 12%. In addition to Poland (+ 7%), Hungary (+ 5%) and the Netherlands (+ 3.9%).
